what is the worst credit score you've had and still got a mortgage?

lookingforthelight

Hi all,

Just looking for some experiences of people that thought they had a terrible credit report but still successfully applied for a mortgage?

How bad can you get and still get a mortgage?

lee111s

Lenders don't look at your credit score.

It all depends on your income, current debt levels along with previous history.

ACG

Lenders take the information from your credit report and combine it witht he information on the application form and score your application.

They do not go off the score on your credit report.

There are also lenders who credit check (not score) so providing you hit criteria you could have 0 and still get a mortgage.

If there is bad credit involved your best speaking to a broker.

amnblog

Your question cannot be answered in its current form.

Each credit history has its own complications and specialist lenders do have some quite generous criteria.

We have placed cases for borrowers with 27 separate defaults on their record, so much is possible.

If I were try to sum it up I would say borrowers with historical problemS that display as resolved are placeable. Those still showing that they are not managing their credit are very tricky to assist.

boltonangel

Sorry to hijack but I was declared bankrupt in 2009 and want to apply for a 75% ltv mortgage with my husband (not bankrupt). My broker applied through nationwide but I was declined due to errors on my credit files showing problems after bankruptcy (they were inaccurate and I've since cleaned my files) but the advisor told me nationwide won't consider a DIP until 3 months have passed.
We've seen a property we like and it's well within affordability but I fear we'll lose it by not getting a DIP as the builder won't consider a reservation without it.
Does anyone have any ideas of what to do? I've handled my accounts impeccably since bankruptcy.

amnblog

What does your broker say?

boltonangel

He's away on holiday and the person looking after his cases isn't getting back to me (presumably because I'll be a lot of work with potentially no reward!)

amnblog

They are best placed to advise as they know your case.


The date of your bankruptcy registration is key here.


Many Lender consider cases only 6 years from registration. If you were inside that I can understand why Nationwide would see a decent option.


Why the other issues were not picked up on the credit file before the case went into Nationwide is another question.